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Rain or not, Taste of Antwerp gains

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ANTWERP,BELGIUM: WeatherBill (www.weatherbill.com) announced a groundbreaking weather coverage contract purchased by Antwerpen Proeft (Taste of Antwerp), Belgium's largest outdoor culinary festival.

Taste of Antwerp, in its third year, will take place August 21-23, 2009 during the Bollekesfeest. Taste of Antwerp turns the city into a gigantic open-air restaurant, and this year is set to be bigger than ever. More than 25 renowned chefs and caterers are registered to attend; bringing thousands of visitors to taste their small plates in Vlaamse Kaai aka Gedempte Zuiderdokken, Antwerp's biggest square. Taste of Antwerp is at the top of summer tourist agendas in Antwerp during the end of August.

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WeatherBill is supplying weather coverage for the festival that will pay Antwerpen Proeft if it rains more than 9.7mm per day during the event dates. Rainfall is measured at the official weather station in Antwerp Deurne.

"Attendees purchase food tickets when they arrive at the event. They don't book in advance or pay an entry fee, so we rely on high turnout which could be negatively affected by rain," explains Ward Ramaekers, the festival's organizer, along with Claudia Engelen. "This year the festival has grown considerably in size, both in terms of venue and expected attendance. The weather in Belgium is notoriously unpredictable, and coupled with our accountability to bring in attendees, it made event weather coverage imperative."

"Too much rain can heavily affect the event's revenue," says Jens Boening, Managing Director of WeatherBill UK Limited. "WeatherBill offers the only weather coverage that can be customized online or over the phone to protect event revenue when rain, snow, excess cold or heat lowers admission, parking, concession, and merchandise revenue. Payment is based on weather data, so there is no claims process and payment takes place automatically if bad weather happens." (PRNewsWire) 
NCDEX GARSEDJDRJUN12 20 June 2012 contract was trading at Rs 0 . What's your view on it?
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